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2014 Honda Accord Lease Questions

Karen_SKaren_S Posts: 5,092
edited May 2015 in Honda
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Comments

  • Leased my coupe last week and pretty sure I got a great deal. After some negotiations I ended up with this deal:

    3yr/15k
    Gross Cap Cost- 19875
    Adj Cap Cost-19375
    Residual- 13165
    MF-.00031 (was what they told me during negotiations)
    Due at Signing Fees- 1658 (Including 1st mo payment)
    Trade-9k (3k to down payment, 6k back)
    Monthly Payment- 199.00

    Even though the deal is finalized, I just want to be sure the deal was as good as I thought.
  • gmanusmcgmanusmc SoCalPosts: 699
    edited December 2013
    It's hard to say - you don't break down the remaining 1459 in fees but incl fees and the 3k you put down and subtract out the 595 lease initiation fee, looks like you're at around 800 below invoice including flex cash (subtract out any mandated license/dmv fees and that improves on that figure). Does the 199 include sales tax?

    Bill G
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Hello everyone. I am new to the message boards and wanted an opinion on the price information I received for a 2014 Honda Accord Sport for 36 months with 12,000 mile allowance each year:

    MSRP: 25305
    Reduction of 1956
    Total: 23349
    MF: .00073
    Out of pocket at signing: 1500 (for 1st month 260.59, fees and insurance 363.75, taxes 70.79 and cap reduction of 504)
    Monthly payment with tax: 261

    I may not have all the information needed for someone to provide an opinion. If not, I can get it. Thanks so much for the help.
  • gmanusmcgmanusmc SoCalPosts: 699
    edited December 2013
    Check post 5550 - he just leased a sport with a sell price of around 21.5k.

    I think his deal was same payment as yours but with less than 400 due at signing. The dealer you are working with should be able to do better. Do you have other dealers nearby so you can get some competition going?

    Also Honda just announced dealer incentives that might result in sweeter deals the last 10 days or so of this month if you can wait.

    Bill G
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • Sorry, guess I should have included them. Heres what I got.

    Cap cost red-500
    Sales/use tax-45.00
    Initial title/reg fees 22.50/53.15
    Other fees:
    TMP-5 Notary-35
    Tire Tax/Online Fee 19.55
    TA-53.55 /ACQ-595 / DO-131
    Rent Charge- 363.24
    Monthly payment before tax- 182.57
    monthly sales tax 16.43

    And if I turn it in at lease end 350.00 fee

    So including tax 199.00/ Month
  • What do you think of a Honda lease, Accord LX, $252 with tax and $550 down? I don't have the specifics, but I don't plan on buying the car at the end so I am not interested in the price of the car, although I know it is a factor in the lease. Also, does the EX have a smoother ride compared to the LX? I know Honda has changed the transmission which is supposed to make the ride bumpy. I wonder if the 2014 LX is better than the 2013 LX in terms of the drive.
  • Hi,

    Does anyone know what the MF/residual are for a 2014 Honda Accord EX-L V6 Coupe, Automatic, no Navi? 36 months/12k (or 10k if Honda offers that).

    Thank you very much!
  • kyfdxkyfdx Posts: 167,318
    2014 Honda Accord EX-L V6 Coupe (non-NAV) 36mo, 12K/yr lease
    .00073 MF and 54% residual

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • albert72albert72 Posts: 194
    kyfdx,

    On Nov 11th you game me MF and Residuals on the following and I wanted to find out if these #s are still good or what the new #s are. If these #s are good, do you know when they are valid through?

    Thanks,

    2014 4 cyl EXL 36mo, 12K/yr lease
    .00073 MF and 57% residual.. the V-6 residual is 56%

    The one-pay lease money factor is .00001.
  • kyfdxkyfdx Posts: 167,318
    The lease program that came out in November runs through January 6th, so all is the same...

    regards,
    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • cazneedsacarcazneedsacar Posts: 8
    edited December 2013

    Hey Everyone, got a quote on a 2013 V6 EX-L Accord coupe (no navi) for $339/month, 39 months, 12K miles, with tax and first payment up front (so approx 1490 total). Can anyone tell me if this is a decent deal? I figure thats basing it on a sale price of around 29k for the car (MSRP is about 31250). Thx!

  • Hi-

    Would someone be able to provide me money factor and residual for 2014 accord coupe EX and EX-L, 15k per year, 36 or 39 months (which ever is better).

    Northeast Ohio region.

    Thanks much,

    RJ

  • I want to hamilton honda in NJ and they offered 169/month 36 month with 12K miles. and 1700 down including tax ,doc fee etc. i asked for 27 month /12k miles and they offered 179/month..

    Here is breakdown for 10k miles which i got in email...

    Hamilton Honda lease Special
    2014 Accord lx Sedan
    27 months @ 129 /10k miles
    plus inception
    Down payment 0
    NJ Taxes 345.39
    Bank Fee 595.00
    Plates 229.50
    Doc Fee 249.00
    Whl locks 150.00

    First Month 129.00

    Total signing $ 1697.89

    lease total $ 5051.89

    MF :00073..I think
    residual vaule :19073

    ============

    let me know if this is good deal...

  • kyfdxkyfdx Posts: 167,318

    2014 Accord Coupe EX 36mo, 15K/yr lease

    .00073 MF and 55% residual. EX-L residual is 53%

    kyfdx

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • @srs1974
    Please double check your residual value of $19K++. Likely a typo.
    If that is an LX Honda Accord 2014 then that is a bad deal.

  • Hi, i'm trying to get the best deal possible on a lease for a 2014 accord sports trim. My Dealer sent me an email quoting me an MSRP of $25,305 and an invoice price of $22,125. He stated with 900 down my lease payment would be around $322. From looking through this forum, that seems to not be a solid offer. He wouldn't inform me of what number values he's using, but stated to come in and we could discuss things further. It seems people are getting .00073 MF and a residual of about 57%. Are these numbers accurate? If so, what should a lease payment for this car be without any sort of down payment? A comparison with 15,000miles/yr & 12,000miles/yr would be helpful. Thanks!

  • @Jasonb88 - I am not into the sports trim (I am boring), but the internet manager I was dealing with offered me 2013 LX-S. For a basically same car as the 2014 LX-S, $900 down
    only $179/month. If you need more miles, I already asked and they said they will agree for $20-25 more per month.

    This deal I got is from a NJ dealer. They are the only 2-3 dealers I may be enticed to come back to. The rest are not easy to deal with. If you are in the area, I can refer you to the same internet manager I got this from. If you wish, we can do a group dealing as I try to get an EX-L (lease or purchase I do not care) at a sale price of $25K or less.

    (cut and pasted)

    • Subject to tier1 credit approval. Based on 36 mo lease,
      10k mi/year @.15 additional. Total payments $6,444.
      Residual $14,494.20 $998 down, add taxes ($451.08
      NJ), doc fee, DMV & bank Acquisition fee $595. MSRP
      $24,990. Prices include delivery & prep fees. Full Gap
      insurance protection. In wear termination included.
  • @srs1974 said:
    I want to hamilton honda in NJ and they offered 169/month 36 month with 12K miles. and 1700 down including tax ,doc fee etc. i asked for 27 month /12k miles and they offered 179/month..

    Here is breakdown for 10k miles which i got in email...

    Hamilton Honda lease Special
    2014 Accord lx Sedan
    27 months @ 129 /10k miles
    plus inception
    Down payment 0
    NJ Taxes 345.39
    Bank Fee 595.00
    Plates 229.50
    Doc Fee 249.00
    Whl locks 150.00

    First Month 129.00

    Total signing $ 1697.89

    lease total $ 5051.89

    MF :00073..I think
    residual vaule :19073

    ============

    let me know if this is good deal...
    @latecomer said:
    srs1974
    Please double check your residual value of $19K++. Likely a typo.
    If that is an LX Honda Accord 2014 then that is a bad deal.

    YES its a typo..its close to 13000 something...

    is it a good deal ?

  • @latecomer said:
    Jasonb88 - I am not into the sports trim (I am boring), but the internet manager I was dealing with offered me 2013 LX-S. For a basically same car as the 2014 LX-S, $900 down
    only $179/month. If you need more miles, I already asked and they said they will agree for $20-25 more per month.

    This deal I got is from a NJ dealer. They are the only 2-3 dealers I may be enticed to come back to. The rest are not easy to deal with. If you are in the area, I can refer you to the same internet manager I got this from. If you wish, we can do a group dealing as I try to get an EX-L (lease or purchase I do not care) at a sale price of $25K or less.

    (cut and pasted)

    • Subject to tier1 credit approval. Based on 36 mo lease,
      10k mi/year @.15 additional. Total payments $6,444.
      Residual $14,494.20 $998 down, add taxes ($451.08
      NJ), doc fee, DMV & bank Acquisition fee $595. MSRP
      $24,990. Prices include delivery & prep fees. Full Gap
      insurance protection. In wear termination included.

    can you let me know what dealership you are working with..? i am in NJ so would be interested in talking to them..

  • dylrexdylrex Posts: 78

    @Jasonb88
    According to my calculations using the MSRP and selling price you provided, I come up with a pre-tax payment of $233.76 with 12K/yr and $247.45 with 15K/yr. The MF is .00073 and residual is 58% for 12K/yr. and .00073 and 56% with 15K/yr. Does the purchase price include the acquisition fee? If not, that will increase your payment by about $17 dollars if you roll it in.
    I think you can do much better than your current offer.

  • @srs1974
    Now a residual of 13K with $5051.89 total lease cost is also probably a typo if it is over 27 months lease with 10K miles / yr. THAT IS TOO GOOD TO BE TRUE.

    Check your notes with the dealer.

    The more knowledgeable people on this forum must be able to access correct ALG residual for a 2014 LX Accord with 22,500 miles after 27 th month, but it cannot be $13K only.
    $13K-14K might be for something after 36 months and after 36,000 miles.

  • Hi Guys - anyone in NJ who has gotten a sale price for a 2014 EX-L (CVT 4-cyl only, no navigation) below $25K yet? I do not care if it is purchase or lease. If lease and the capitalized cost will imply a sale price of $25K or less, please let me know which dealer. Thanks.

    • p.s. I got near that target, but so far only from Boston area. NJ dealers still tough...
  • glatglat Posts: 2

    Just signed a lease for an EX sedan... three years/36k miles

    MF .00073
    Monthly payment came out to $200/month
    Put down $2500... Honda used $500 flex cash
    Car was totaled last week so I had to make a quick deal.

  • srs1974srs1974 Posts: 14
    edited December 2013

    @dylrex said:
    Jasonb88
    According to my calculations using the MSRP and selling price you provided, I come up with a pre-tax payment of $233.76 with 12K/yr and $247.45 with 15K/yr. The MF is .00073 and residual is 58% for 12K/yr. and .00073 and 56% with 15K/yr. Does the purchase price include the acquisition fee? If not, that will increase your payment by about $17 dollars if you roll it in.
    I think you can do much better than your current offer.
    @latecomer said:
    srs1974
    Now a residual of 13K with $5051.89 total lease cost is also probably a typo if it is over 27 months lease with 10K miles / yr. THAT IS TOO GOOD TO BE TRUE.

    Check your notes with the dealer.

    The more knowledgeable people on this forum must be able to access correct ALG residual for a 2014 LX Accord with 22,500 miles after 27 th month, but it cannot be $13K only.

    $13K-14K might be for something after 36 months and after 36,000 miles.

    I forgot residual value..but here is sale price and breakdown given for Accord 2014 LX.

    Sale price to lease company is $19073 ,

    Outright buy price is $20,000,

    $ 1697.00 down,

    Desposition fee : $350 at the end of lease.

    **options **

    27 month /10k miles --129 /month

    27 months / 12k miles --$179 /month
    36 moths / 12k miles --169/month

    27 month / 15k miles -- 209
    36 moth / 15k miles - 199

  • If the sale price to lease company is $19073 - regardless of the other combinations of months or mileage and cost per month, then go for it.

    Leases are for some reason presented to us buyers in a too complex manner. (Buyers probably can be blamed for this - since we typically focus on monthly or down payment, etc.)

    Assuming there are no outrageous bank fees ($595 are typical in NJ).
    Assume further that the residual value is high enough that at the end of the lease, you may be tempted to keep the car as you can resell it for that high residual value.

    Then there are only 2 factors here that really matter: sale price to lease company and the interest rate.

    • The interest rate is low nowadays. Even if you ask your local bank or credit union for a financing on the new car . So the leasing companies will always be around the low interest rate 1.7 to 1.9% nowadays perhaps.

    • Which makes only the sale price to lease company the only real factor. $19073 is about $4500 below MSRP and $2500 below Dealer's invoice. for an Accord 2014 LX.

    The mere fact they disclosed to you the sale price to leasing company makes them worthy. That is why even my schedule is painful I will try to take a day off these next few days and get back to that dealership. FWIW they are not difficult to deal with compared to others I have sat down with in NJ

  • @srs1974 - the $19,073 sale price - did you clarify if that already includes the destination charge and does that include or exclude the wheel locks ($150)?

  • Yes it does include wheel locks. Check my post. It includes down payment details
  • Hi, I was recently quoted the following for a 2014 EXL V6 sedan in NJ. I apologize in advance for not having most of the details. I wasn't sure what all to ask for from the dealer.
    12k/36month lease
    Selling price: $27,700
    Due at signing: $1559.63 with 35 payments of $328.63 left
    Due at signing: $0 with 36 payments of $363.77 left

    I had asked for quotes to be inclusive of all fees/taxes and these are the numbers that I was offered.

  • @jacknibbs
    a. which NJ Dealership quoted you these numbers?
    b. is this sale price of $27,700 an EX-L V6 with navigation or none?

  • Hey guys, sorry to re-post, but anyone able to give an opinion on this? Long island, NY.. Got a quote on a 2013 V6 EX-L Accord coupe (no navi) for $339/month, 39 months, 12K miles, with tax and first payment up front (so approx 1490 total). Can anyone tell me if this is a decent deal? I figure thats basing it on a sale price of around 29k for the car (MSRP is about 31250). Seems like from comments in this thread the residual would be about 54% and the MF around .00073. Thx!

  • @latecomer said:
    jacknibbs
    a. which NJ Dealership quoted you these numbers?
    b. is this sale price of $27,700 an EX-L V6 with navigation or none?

    This was Joyce Honda and its for an EX-L V6 w/out nav

  • Hey guys,
    I saw the ad for a 2013 honda accord for $199 a month with $2000 down. They were able to give me $500 flex cash, $500 for grad incentive, as well as $661 in cash for my car. I'm curious on why my payment isn't around $210 since I'm making up for the $339 that I couldn't get as a down payment. Instead they said the lowest they could get me was at $259.

    Thanks guys.
  • otoluvaotoluva Posts: 195

    My 12 Accord lease expires next Dec. And I'm already checking the market for my next ride.
    For those of you looking to get into a lease now, my local Honda sales guy whom I ran into the other day told me that the LX goes for $225.00 a month 36/12k with 0 drive off.

  • @otoluva - can you at least tell us which Honda Dealer of which local area? Also is that a 2014 or 2013 LX and is it a manual transmission or auto -CVT?

  • otoluvaotoluva Posts: 195

    2014 LX auto tranny, Lundgren Honda in Auburn, Mass.

  • otoluvaotoluva Posts: 195

    Also, for sport trim add $28 a month.

  • So I got another quote here in atlanta. It appears since march 2013 they do taxes on a lease different from everywhere else. They take the taxes up front off of the MSRP? I was given a selling price of 21,600 on a 2014 accord sport. Then they added approx $1500 in taxes, plus accessory costs of about 795 and other fees that I cant recall. MF of .00073 and 58% residual. It came out to be approx $345 with no money down, and approx $315 with $2,000 down. I'm sure this is terrible, but again, I'm so lost as to how to calculate this properly here in atlanta.

  • kyfdxkyfdx Posts: 167,318

    GA changed their tax calculation recently (within the last year). Like Texas, Illinois and a few others, they charge sales tax on the full selling price of the vehicle. It hurts.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • The invoice was 22,125. Then they added the taxes and dealer fees to get the car back to a total cost of 25,000 or so and then created my lease from that. For some reason they did not take the 2,000 down payment, nor the $500 grad incentive off of the cap reduction? Did they screw my lease up on purpose?

  • glatglat Posts: 2

    Jason:

    My sister just leased a 2014 Accord Sport and put her old car up as trade. They gave her 2100 on the trade and her payment is 247 I think (she did not want to negotiate, this was their second offer). This is in Cincinnati, Ohio.

    I just leased the EX with 2500 down and my payment is an even 200/month... I had two dealers going at it too.

  • All,

    Just wanted to thank everyone here for their help especially brian, kfdx, etc.
    The people in this forum are all very helpful.

    I closed on a lease deal today. Was my first lease ever. Always purchased, but no lease. But since interest rates are low enough, it seems a good hedge if a) I do not like long term to keep this version or b) maybe I move to different place and better to return the car.

    Not my best deal on anything but I had some especial considerations unique to me that I just have to live with it. For one, my Dec 30th shopping day just went out the window (personal reasons). So I had to go make a run this afternoon with the top 2 deals on hand.

    My single biggest factor for decision is sales price. Monthly or all that different angles are not important for my case. I just needed a lease that is not outrageously more expensive than purchase. And something that will hedge my gas usage on my AWD CRV. My credit score is top tier though, so YMMV:

    1) 2014 Accord LX Sedan - selling price $19.3K+ (about $2300 below invoice), essentially if I put $957 DP, it is $149/month for 12,000 miles/yr, 27-months term, residual $15068. MF=.00073

    2) However, since I have an out-of-state deal as well for 2014 EX-L (4-cyl only, no NAVI), I explored if they can go near $25K or better on EX-L. Well, I was able to get $1750 below invoice. $16,564 residual. MF=.00073. $249 per month x 36 months 12K mi/yr.

    Not as nice $-wise as the LX, But l decided the EX-L is better choice for my household specific situation. Also, since I need to get back home ASAP, and knew I did not have Dec 30th open anymore, I did not put up a hard fight for the $300-400 for accessories -- that although useful, seems over priced for my taste (on after market Honda, same set of stuff appears $100-150 cheaper but I still need to install it).

    So: worst case I was $1050 below dealer invoice. If I pretend I really want the accessories and got them cheap, then I am $1250-1300 below invoice then plus a flex cash rebate of $500 after all is said and done. So not much of a buyers remorse. This is NJ anyway.

    Good luck to everyone. Enjoy your new car or while shopping. And a happy new year to all.

  • Leased a new 2014 Accord LX this past weekend at Hamilton Honda in Hamilton, NJ. 27 months, 12,000 miles per year, $129 per month with $1700 cash due at signing (Reduced from $2,200 by $500 Honda Flex Cash) (Upfront sales tax, bank acquisition fee, MV fees, dealer doc fee, bank acquisition fee, first month's payment). Unfortunately, was not initially aware that Honda recently instated a $350 Lease Disposition fee, but signed the deal anyways. Overall, very happy with the price, dealer experience, and the car itself.

  • @mp504558 - Congrats.
    The LX is an awesome value for what we get. Can you share what
    a) sale price was used?
    b) what was the residual value and money factor?

  • nanunemnanunem Posts: 8
    edited December 2013

    Hi Guys,
    I am in Texas and the deal I am getting is for a 2014 Honda Accord EX, 36-months, 15,000 miles per year, $250 per month and $1000 down that includes first month payment and every fee/tax payable, per the sales rep. The residual value per him is $15100 and the lease also includes GAP insurance, convenience and protection packages.
    Does this sounds a good deal or should I negotiate further?

    Thanks much for the help folks!!

  • @latecomer said:
    mp504558 - Congrats.
    The LX is an awesome value for what we get. Can you share what
    a) sale price was used?
    b) what was the residual value and money factor?

    @latecomer. I don't have the exact paperwork with me, but I remember the residual being approx. $15k, so right around 64%, with the money factor being 0.00073. The selling price was right around the $18,500-$19,000 range.

  • Can I have the MF and RV for EX-L V4 and V6 for 12k in Indiana?

  • kyfdxkyfdx Posts: 167,318

    .00073 MF and 57%/56% respectively..

    Those are December numbers that are good until Monday, 01/06/2014

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

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